The prime objective of the current study is to examine the mediating effect of university role in determining the relationship between entrepreneurial orientation, entrepreneurial perception and new venture creation among university students in Thailand. It is challenging to merge studies with business engagements, especially for full time students due to the tied learning activities. However, some students allocate time for entrepreneurial involvements based on their timetable. Time utilization for an entrepreneur is very crucial, that is why many scholars view time as a currency needs to be wisely utilized. The notion behind this assumption is to inculcate students’ entrepreneurial mindset from the outset, so that after graduation they will at least have acquired basic business venture skills. The present study aims to explain the relationship between independent mediating and dependent variables. Thus, this paper employed PLS-SEM due to its’ flexibility, lower sample size requirement, and handling of multiple regressions. Furthermore, PLS-SEM consists of formative and reflective constructs. This study has focused on the relationship between entrepreneurial business venture creation and various variables that might influence it. This study has explained in detail the relationship between entrepreneurial orientation, entrepreneurship perception, university role, and new venture creation.